Panama Real Estate Party Archives

Day 272 Saturday (Sabado) - Playa Corona

Came across a couple more pictures we took while partying at the New Ibiza Chic Hotel a couple of weeks ago, couldn't pass these up on a post as it was a great party.

Mi Amigo Richard & I on the red carpet and My Corona Girls from the lobby party.

No worries, my wife knew all of this was happening ;)

Tonight is the Guitar Festival, let's see how that goes.

Panama City versus?

Day 271 Friday (Viernes) - Panama City

Like any other international city, Panama City offers everything you would need to live a nice comfortable life, and depending on where you are coming from, at a considerable discount.  We have talked to many clients that come in from New York, Toronto, Los Angeles, and London and they cannot believe how modern Panama City is and in comparison how much less they have to spend on housing and daily living.

Now Panama City is no NY, LA, Toronto, or London, but they are certainly heading in the right direction and getting in early is always the biggest plus when making a move.

My personal experience is a good comparison to Florida, after the real estate crash when it comes to housing. Sure you can get what looks like a deal on a condo in most Florida cities that compare in price to a Panamanian condo, but then watch out for those condo fee's, insurance, and taxes, that is where Panama will win every time.

Daily living expenses will also prove cheaper here in Panama versus most places you will come from and if you like warm/hot weather year round, then Panama cannot be beat. We have NO WINTER, ever, not even for a few days. When we first moved to Florida we thought we went far enough south to avoid those cold cold days, but no such luck. Sure the cold in Florida only lasts 2-3 months but it still gets into the 30's and 40's (that's degrees) - we say NO THANKS.

So what are you waiting for? Come To Panama and Turn Your Frown Upside Down and find out for yourself.

Is that a pay phone line?

Day 270 Thursday (Jueves) -Panama City

As an American its been a long time since I have seen a pay phone, those started to disappear from the street corners maybe 10-15 years ago so we thought this was a great street scene, a line to use a pay phone.

The cost of a pay phone here in Panama is one cent/minute, and you can use your debit/credit card in most of them, plus you can make International calls.  Who said this was a third world country, come on, PAY PHONES - we love it

Panama weather versus Your weather

Day 269 Wednesday (Miercoles) - Panama City

Welcome to Wednesday, the ole middle of the week. Here in Panama City the weather is picture perfect this morning although we have had a number of wonderful heart thumping thunderstorms the past few days, but heck it is rainy season so that is expected. Turn your attention to the USA and you see Debby tearing through the Gulf causing all sorts of weather issues. One thing about Panama, there is NO Tropical Depressions and NO hurricanes that have ever been recorded in the history of the Isthmus. One of the reason folks come here to live is for the year round warm weather and to not have to worry about those vicious nasty storms.

Now don't get me wrong we do get our fair share of rain falling from the sky to the tune of 70-80" a year, if not more, and that in and of itself can cause lots of flooding in areas, but we do NOT have to worry about our houses and building falling down - This is a rain forest country after all so rain is all part of the beauty, but to sit in fear of some winds blowing you away, well it just ain't gonna happen. The Caribbean side of the country will get the most rain as it sits closer to the Tropical Depression line, while the Pacific side, well not so much.

We talk about this because weather is a daily event in all of our lives, sometimes it dictates what we will or will not do. And earlier this week I had a friend looking to travel back to the USA and could not due to our friend Debby hitting the Florida coast so it seemed like a good time to blog about it again.

Remember to Come To Panama and Turn That Frown Upside Down

International Guitar Festival Panama

Day 268 Tuesday (Martes) - Panama City

This coming Saturday is the International Guitar Festival and courtesy of my very astute spouse we nabbed a pair of tickets for the opening night. What makes the festival different this year? Well they are featuring woman guitarists for the first time.

The festival will be held in Casco Viejo at the National Theatre and runs from June 30th through July 5th

Panama traffic happenings

Day 267 Monday (Lunes) - Panama City

Many folks have been concerned about red light and speed camera's popping up in places here in Panama. One camera in particular in Costa Del Este nabbed 2000 people for speeding in a one month period, even getting folks for going 1 km over the posted limit, soooooooooo... they are shutting down the camera program for now to recalibrate as this was not the intent. The best part was if you received a ticket by this camera and they could not get you by phone or email, they would tack it on to the price of your license plate when you go to renew. So beware, this is coming.

And as always watch those road blocks for drinking and document checks. The road blocks seem to pop up  often enough to keep you on your toes. So stay legal, seat belts, no texting, have your passport or a copy of it with you, drivers license, etc...

Panama Real Estate, Panama Party

Day 266 Sunday (Domingo) - Playa Corona

Last nights event was a huge success and as the name of the town implies Corona Beer was the sponsor. They literally rolled out the Red Carpet.

We along with 600 of our closest friends went to a grand opening for the Ibiza Chic Hotel in Playa Corona and it was a party from 5pm to midnight.

All you can drink and all you could eat FOR FREE, our type of party........

PLUS, as a bonus, President Martinelli showed up and it is not everyday you get to meet the President of a country, well we all had that pleasure last night as Mr. President made his way through the scene. I was able to chat with him and take a couple of photos of him. Yes he does speak English as he was educated at the University of Arkansas.

Now I am resting and shaking the cobwebs out of my head and on my third cup of cafe leche as I write this blog.

Enjoy my pics.

Hotel looking up

What a pair, taking photos on the red carpet just like Tom Cruise and Katie Holmes

Entering in

Lobby party

pool area on Area Sociale

Look at that view

Party time

getting ready

View from skydeck of mountains in El Valle De Anton

Getting ready

View from Skydeck of Pacific Ocean

Yours truly with dos Corona Girls

Yours truly with a Corona Girl

Carnival band banging it out loud

El Presidente being interviewed on TV

El Presidente in the middle, white haired dude

Shuttle bus ride back to the city

                                     

Panama City Street views

Day 265 Saturday (Sabado) - Panama City

As we walk around Panama City sometimes you just need to stop and snap a few pictures of the traffic and streets. Today was one of those days, we walked up about 40 steps to get to this street overpass on Via Israel and took a few shots. From this vantage point you could see a vibrant, growing city. It is amazing that Panama City looks just like any other city around the globe and many times people do not believe us when I tell them this. As a matter of fact when we look out one of the windows of our condo you would think we were in the US as we see Kentucky Fried Chicken, Pizza Hut, and Blockbuster. Good grief Charlie Brown.

World Music Fest Panama - What a jam session

Day 264 Friday (Viernes) - Panama City

Last night at the ATENEO Theatre in the City of Knowledge we were entertained by the Brazilian Fernando Sodre who plays the Viola and he was accompanied by his Bass Player and Drummer. It was a great jam session for about 1.5 hours. Interestingly enough Sodre created a 14 string viola and the sounds and pitch coming out of this thing were pretty amazing. Here's a sample of his sound

Here's a few shots of our evening.

Yes, we played dress up

World Music Fest Panama tonight

Day 263 Thursday(Jueves) - Panama City

Tonight is the night we hit the Ateneo theatre in the City of Knowledge to enjoy the Brazilian Viola, Fernando Sodre.

The World Music Fest covers many musicians throughout the America's that entertain hundreds of thousands of folks, you can get more information directly from their web page at World Music Panama to check out all the musicians of this annual event that are performing here in Panama.


Pictures of tonight's event will be posted tomorrow, if we are allowed to snap some.

Panama is still growing

Day 262 Wednesday (Miercoles) - Panama City

Despite what is going on in the rest of the world, especially the US and Europe, Panama and other Latin American countries have steadied the ship for more years of growth. Panama has not felt the impact of the so called Global Crisis that began in 2007/2008. Panama has forged forward and see's continued growth for the next few years. Granted Panama cannot keep the rapid pace of 8-10% but 5-7% should not be out of the question as they complete the canal widening, complete the new Rio Hato International Airport, Complete renovations to the existing Tocumen Airport, Complete the new Metro system throughout Panama City.  The above projects have kept Panama growing which has created a much larger middle-class.

Panama still has a lot of poverty, especially in the interior of the country, but even these folks are benefiting as the growth starts to push west.  Panama City is already classified as an International City worthy of global attention, now the push through-out the interior will help Panama maintain.

With a solid banking system and laws that favor foreigners being treated as locals, Panama is showing the world how to prosper. Of course it was not always like this, and sustained growth is always a tricky thing to accomplish but I see Panama growing steadily, not rapidly, but I am no economist, but then again the professional economists didn't see the train wreck coming to the US and Europe, although they all say they did now.

I am hoping the US can get back on track, hey it is my home, but with the political climate what it is, and over 54 million citizens on the government dole in one form or another, and climbing, I just don't see too much change coming for a very long time. Wealth is disappearing, and with that comes uncertainty, it is funny how the US economy was built on consumer and government debt, not savings to build wealth. It is no wonder the Fed has kept the interest rates so low, OK non-existent. How can a little Latin American country like Panama have secure banks and credit unions paying as much as 8.5% on CD's? and have been for quite some time. O I know, they make sure you can afford shit before they loan money, if not, take a seat my friend and work hard, save, then come back.

Hasta Luego for now

World Music Fest Panama 2012

Day 261 Tuesday (Martes) - Panama City

Well we scored some tickets to see Fernando Sodre as part of the World Music Tour here in Panama.

My good wife called into a local radio station in Panama the other day and was the right caller, only she could pull this off in a Spanish speaking country, as her Spanish is weak at best, but she WON and we are going.

Sodre is a 33 year old Brazilian and he plays many versions of the violin, one of which he created that has 14 strings. Sodre has emerged as a National Icon in Brazil and he represents them well, I guess we shall see as we are off to see him this coming Thursday at the theatre in the City of Knowledge.

Report back after the show to let you know how it was.

El Valle de Anton, Panama

Day 260 Monday (Lunes) - Panama City

Let's take a look at El Valle, a section of Panama that attracts many Expats from all over the globe.  What is the attraction? The cooler weather mainly.

Come and discover this beautiful town high in the mountains of Panama, on the floor of the largest inhabited volcano crater in the world. Once a crater lake, this quiet village became home to Indians from the surrounding mountains who have been here for thousands of years.

El Valle boasts some biking and hiking trails, Zip-lining, and a nice zoo to visit.

On weekends this quiet village comes to life as Panamanian weekenders and tourists from all over the world arrive to enjoy El Valle's famous arts and crafts market where locals and also many Kuna Yala Indians offer their colorful goods. 

By Sunday night, quiet descends on the village as it falls under the spell of the legendary "India Dormida" – a well-deserved rest after a busy weekend

Bath in the hot springs or simply relax in a hammock with a glass of a good Panamanian beer. Enjoy the spring-like climate, listen to the birds and take a deep breath of the clean mountain air.


El Valle is about a 45 minute drive west of the shopping of Coronado and only 2 hours from Panama City.


Come To Panama and Turn Your Frown Upside Down.

Happy Father's Day

Day 259 Sunday (Domingo) - Panama City

Father's Day is celebrated in Panama the same day as most of the world. If you are near your father today, hug it out, if not, call, email, skype, something to show that appreciation for the man you call Dad.

We are hosting a Dad's breakfast today in the city with a few friends. Always good to get together, but usually we do things at night, so 10am will be different.

Panamanian tradition is to take dad out to eat at about 2pm to a local restaurant and sit and talk and eat for about 3 hours, so you can just imagine how packed restaurants will be.

Happy Father's Day Dad.

Time to talk Panama Real Estate

Day 258 Saturday (Sabado) - Panama City

So I dabble in Real Estate here in Panama as both an investor and advisor. I would like to share some listings that I have here in Panama so you can see the wide variety that the country has to offer. Panama has been booming for about 7 years now, and with the economy still growing and the Canal being widened, and the new Rio Hato International airport being worked on, I really see great opportunities still happening here.

Check it out and let me know if something interests you.

My Panama Listings

Beef, Beef, and more Beef

Day 257 Friday (Viernes) - Panama City

Off to the BBQ Meat Market last night for dinner on Calle 69. Not your usual dinner. This was an open house where you could indulge in all of their finest cuts of meat. Filet, Rib Eye, Brisket, Baby Ribs.

I would say the 1.5 hours that we were there we saw about 25-30 people. It was a great event highlighted by the meat they sell and of course the 5 year old Rum they were serving.

We are not sure why the event took place, maybe they just opened, but it was nice to locate the event and go - made us feel part of the neighborhood, as they truly had great food, right down to the corn on the cob smothered in garlic butter sauce.

Wake Up, Wake Up, Wake Up

Day 256 Thursday (Jueves) - Panama City

Time to kick it back, it is Thursday you know.  Seemed we ran a bit ragged yesterday for some reason. I guess that is OK once in a while. Looking forward to the BBQ Market later today as they have an Open House serving up some delicious meats grilled on Webers. I am all over this.

The Sovereign Man - Simon Black has been on a great roll lately with some of his posts. I love the history of what is going on and Simon has been writing about it so I like to share his thoughts once again. Take a look and Thanks Simon.

In Medieval Europe when most people were living short, brutish lives wallowing in muddy serfdom, there was one city that served as a shining economic beacon for the rest of the continent: Venice.

At the time, Venice was one of the richest places in the known world, underpinned by its dominance in trade and the upward mobility of its citizens.

The concept of what we know today as "America" was alive and well in Venice during the Middle Ages; Venice was a place where, with guts, hard work, and a little bit of luck, you could become very wealthy and live the Venetian Dream.

The modern Limited Partnership structure, in fact, is derived from an early Venetian model called the 'commenda', a sort of special purpose vehicle for trade missions.

A standard commenda involved young entrepreneurs with a lot of energy but no capital partnering with older veterans with a lot of capital but no energy. The old guys would finance a trade mission to Asia, and the young guy would head off to foreign lands to make money.

If/when he returned, they would split the profits, the young guy receiving 25% to 50%.

A lot of people became very wealthy through this model, and even the poorest serf could come to Venice and rise up in social and financial status.

As you could imagine, though, they managed to find a way to screw it up.

In the early 1300s, the ruling elite eliminated the commenda structure that had made so many people so much money. Shortly afterward, the state started charging exorbitant taxes to merchants and nationalizing trade.

A police force was introduced in 1310 for the first time ever... not to protect the people from criminals, but to protect the criminals (government) from the people.

It didn't take long for Venice to decline into insignificance. Any opportunities to create wealth and live prosperously vanished as Venetian politicians engaged in the wholesale destruction of their economy, the livelihoods of its participants, and the 'Venetian Dream.'

With 20/20 hindsight, we can look back upon medieval Venice and pinpoint the early 1300s as the turning point to rapid decline... when there was a great unraveling of economic foundations and personal freedom.

It certainly makes one wonder whether future historians will look back upon this period in Western civilization and draw the same conclusion.

While I'm no fan of economist Joseph Stiglitz or the neo-Keynesian ideals he espouses, his new book proves this point more than just about any other recent work.

In The Price of Inequality, Stiglitz provides copious data showing that individuals in the United States now have a lower likelihood of moving up in social/financial status than any other developed country in the world.

This fact is reinforced by the Federal Reserve's most recent Survey on Consumer Finances, which showed that median US household net worth fell nearly 40% from 2007 to 2010.

This is the natural effect when you base an entire system on the whims of a very small elite that has awarded itself the ability to spend recklessly, rack up unsustainable levels of debt, and conjure money out of thin air.

As in Venice before them, US politicians have been engaging in the wholesale destruction of their economy, the livelihoods of its participants, and the American Dream.

Mission accomplished.

It starts: the government's plan to steal your money

Day 255 Wednesday (Miercoles) - Panama City

I was reading a very interesting article yesterday that I felt compelled to share as it was pretty disturbing to see how governments can and will treat their citizens in times of financial crisis. Yes there is still a crisis happening and the politicians of today are on a money grab to keep themselves in business.  It seems funny to me that the things that governments do would put a private business man or woman in jail.

Read with caution and I hope you have the stomach for it. The below is courtesy of our friend Simon Black, Senior Editor, SovereignMan.com

Date: June 12, 2012 Reporting From: New York City 

There are consequences to being flat broke.
There are consequences to investing any level of confidence in a financial system underpinned by debt and the creation of paper currency.
There are consequences for ignoring reality and pretending that everything is normal.


This is one of them: European officials yesterday flat out admitted that they were discussing rolling out a series of harsh capital controls across the continent, including bank withdrawal limits and closing down Europe's borderless Schengen area.


Some of these measures have already been implemented sporadically; customers of Italian bank BNI, for example, were all frozen out of their accounts starting May 31st upon the recommendation and approval of Italy's bank regulator. No ATM withdrawls, no bill payments, nothing. Just locked out overnight.


In Greece, the government has taken to simply pulling funds directly out of its citizens' bank accounts; anyone suspected of being a tax cheat (with a very loose interpretation in the sole discretion of the government) is being releived of their funds without so much as administrative notification.


It's no wonder why, according to the Greek daily paper Kathimerini, over $125 million per day is fleeing the Greek banking system.
European political leaders aim to put a tourniquet on this wound in the worst possible way.


So what are capital controls?


Simply, capital controls are policies which restrict the free flow of capital into, out of, through, and within a nation's borders. They can take a variety of forms, including:
- Setting a fixed amount for bank withdrawals, or suspending them altogether
- Forcing citizens or banks to hold government debt
- Curtailing or suspending international bank transfers
- Curtailing or suspending foreign exchange transactions
- Criminalizing the purchase and ownership of precious metals
- Fixing an official exchange rate and criminalizing market-based transactions


Establishing capital controls is one of the worst forms of theft that a government can impose. It traps people's hard earned savings and their future income within a nation's borders.
This trapped pool of capital allows the government to transfer wealth from the people to their own coffers through excessive taxation or rampant inflation... both of which soon follow.


The thing about capital controls is that they're like airline baggage fees; ultimately, all governments want to do it, they're just waiting on the first guy to impose them so that they can shrug their shoulders, stick it to the people, and blame 'industry standards'.


Moreover, capital controls were a normal part of the global economic landscape for most of the 20th century, right up to the 1970s. It's been a long time coming for governments to return to that model.


Since the inception of this letter, it has been a constant theme for us to talk about the increasing threat of capital controls. Your money, your savings, your livelihood are all under attack by insolvent governments, and it's critical to take steps to reduce your exposure.
When European financial leaders all openly admit that they're making plans to establish continent-wide capital controls, it really begs the question-- what additional warning sign does one need?
The dominos have already started falling. Iceland. Ireland. Greece. Spain. Portugal. Italy. Cyprus. Soon even France and the rest of Europe. And it will come to the United States as well. There are over 15 trillion reasons why.

Panama Visa's - Executive Order 343

Day 254 Tuesday (Martes) - Panama City

Interesting how Panama has shown open arms to 22 different "friendly" countries and their citizens to come to Panama, become a permanent resident, and work if you want to. Executive Order 343 which controls their immigration law has added a subsection which makes it extremely easy to stay here permanently - Legally. Here is the list of "friendly" countries.

Germany, Argentina, Australia, Austria, Brazil, Belgium, Canada, Spain, the USA, Slovakia, France, Finland, the Netherlands, Ireland, Japan, Norway, The Czech Republic, Switzerland, Singapore, Uruguay, Chile and Sweden.

We sat with an attorney yesterday here in Panama to go over this law, as much has been written about it since it became real on May 16, 2012. We wanted verification of the process, what was needed and how much it costs, what if any ramifications, etc..  So here is a simple list.

1) Police Record from where your from and notarized by Panama Consulate from where you are from
2) 3 Passport sized photos
3) Some utility bills showing the government that you have been here already legally. (If you are just beginning to come here then of course this will not apply - but it sure does help your cause)
4) One bank statement showing at least 4 digits in the account to show you can self-sustain (to me this one seems low as how can anyone just have 1-2 or 3 thousand in the bank and live) but that is the law
5) If married a signed letter of responsibility saying you will take care of your spouses expenses (remember Panama does not have people on the government doles handing out money)
6) Fill out the immigration application

All of the above needs to be submitted along with a copy of your current passport all in one package to immigration along with some money. Here is what we know so far about the expenses involved.
1) $1050 each person
2) $8.00 for each page that needs to be officially stamped in your file by the government here (I do not have an accurate page count yet)
3) Then what ever fee your attorney charges for his/her time

The immigration process can take months, maybe more. Once you submit your completed file you will receive a Temporary Resident Card which will stay active until you receive approval or denial of your permanent request.

Price match aisle 3

Day 253 Monday (Lunes) - Panama City

Love sharing cost of items as it is always a major factor when moving some place different.

The items pictured cost $3.20 in total. Purchased at a store called the number two meat store on Porras ave.

20 cents each orange

67 cents per lb of onions

1.20 per lb of tomato

As an added note, my lovely wife needed a new crown on one of her teeth, in the state of Florida this would run about $1400, here in Panama $750.

Cafe con Leche anyone?

Day 252 Sunday (Domingo) - Panama City

Coffee is a staple in our home as I am sure it is in many others. And some days, like today, a few cups to kick start does the body good.  Panama grows a lot of its own coffee in the mountainous areas of Chiriqui Province, and it also imports its fair share from places around the globe.  I will say that the Panama grown coffee is excellent and of course the price is right.

We drink a lot of coffee so the taste has to be there. We grew up drinking Dunkin Donuts coffee and that is excellent also, and yes my New England friends, Panama does run on Dunkin too. But we choose to stick with native coffee, why else did we move here? The coffee is smooth and tasty, drop in a little milk (cream is not big here unless you like that package dry powder crap) and you are on your way to start any day.
 Let's have a quick Panama coffee lesson to learn how the best coffee is produced here in Panama.


Boquete is to coffee as Bordeaux is to wine. Panama's coffee has been considered to be the best coffee in the world for 3 years in row. So. it would be a little bit strange if you came to Boquete and you left without visiting a coffee plantation, don't you think? Prepare your taste buds for an explosion of flavors!
Several of the world's best coffee producers give you the unique opportunity to have a complete coffee tour through their coffee farms, processing factories ("beneficio"), roasting plants and tasting facilities. Café Ruiz begins their tour at their coffee farm in Palmira, Kotowa Coffee has its coffee plantation in the Palo Alto region where you will have a chance to see a coffee mill that is almost 100 years old, and both Café Suárez and Finca Lérida run their coffee tours at their farms in Alto Quiel.
At a coffee tour in Panama you will learn everything about the coffee process, from when the coffee tree is planted and starts growing, until the way coffee is brewed for you to drink it. You will be able to appreciate the importance of the Ngöbe Buglé indigenous that hand pick the red coffee berries when they are perfectly ripe. You will also have a glance of the shade grown technique which only allows the precise amount of sun on each coffee tree and protects the environment. And you will end with a cupping, in which you will sample different flavors and roasts.

What's it like living in a foreign country anyways?

Day 251 Saturday (Sabado) - Panama City

We get asked the title question many times and you would think it is an easy thing to answer. Living in a foreign country has its challenges, but it really matters how you handle challenges in your normal everyday life. For us living in Panama has not been very different than living in many different states in the US, when you move anywhere you need to get situated, find a doctor, dentist, a vet, turn on phone and Internet, shop, etc.. The major difference in a foreign country of course is the language barrier, but if you really want something to work than the language barrier is not a barrier at all, just treat it as another challenge.  My Spanish is weak at best, yet surprisingly we get along just fine. We have met many locals who speak both English and Spanish and they are more than happy to help if we need it, plus I use my translation software as often as possible.

My advice is, (as Nike says) just do it. If you are looking for a lifelong challenge and wonderful experience than living in a foreign land is very inspiring and uplifting. We would not trade it for the world and we have only just begun this journey.  I remember when we lived in Japan back in the 80's and how awe inspired I was as a young adult, didn't matter then and it doesn't matter now, living is living, people are people. If you need to get something done take a breath and take your time, it will work in the end, if not move onto something else.

I know my Spanish will improve and that will make it easier, but heck I didn't move here to make it easy, I moved because I like challenges and Panama is a beautiful warm country to take up those challenges.

So Come To Panama and Turn Your Frown Upside Down.

I love free stuff

Day 250 Friday (Viernes) - Panama City

Walking around the city we came across the Fuze Tea folks giving out drink samples. Good tasting stuff.